Feds: Teaneck Vending Machine/Jukebox Company Owner Stole $186,000 From Employee Pension Fund
A well-known Teaneck businessman whose vending machine and jukebox company paid five figures earlier this year to settle a copyright suit embezzled $186,000 from his employees’ pension fund, federal prosecutors charged.
Howard Preschel, 62, began skimming the money from a trust fund at CMG Vending Inc. five years ago, U.S. Attorney Craig Carpenito said Friday.
CMG -- which Preschel founded -- operated, leased, and rented vending machines throughout New Jersey and New York, Carpenito said.
“To conceal the ongoing embezzlement, Preschel failed to inform the participants and beneficiaries tha…
